Market to receive supporting news this month

Many securities experts have expressed hopes that the market will receive a lot of supporting information this month, with the VN-Index of the Hochiminh Stock Exchange poised to recover.

Tran Duc Anh, director of the macroeconomy and market strategy department at KB Vietnam Securities Company, said the market would see numerous positive factors such as the restructuring of exchange traded funds, macroeconomic fundamentals for the entire year and business results of listed firms in the last quarter.

The information is expected to support the market in the second half of December, with the VN-Index recovering amid stronger trade. However, to help the market sustain active trading and the index continue rising, global factors should be positive as well, including those on the U.S.-China trade war, developments of key economies, the U.S. dollar price and oil price, the expert said on tinnhanhchungkhoan.vn.

Nguyen Hong Khanh, head of the analysis department of Vietnam International Securities Company, meanwhile, said firms in the oil and gas sector might perform well if the oil price stays above US$60 per barrel. Large enterprises in the sector will lure investors to come back to the market.

Meanwhile, banks may fail to obtain high profits next year as they are still struggling with bad debts. Lenders are also trying to apply Basel II standards, which comprise minimum capital requirements, supervisory reviews and market disciplines, as the deadline set by the central bank is nearing.

The VN-Index of the Hochiminh Stock Exchange fell a slight 1.7 points, or 0.18%, at 957.14 today, December 5, with gainers and losers were almost on a par, at 142 to 144. Trading on the southern bourse dripped 6% in volume and 3% in value to 212.4 million shares worth VND4.8 trillion.

On the Hanoi Stock Exchange, the HNX-Index rose 0.35 point, or 0.35%, at 107.74. The market saw 48.6 million shares worth VND697.8 billion changing hands at the end of the day, improving 19% and 16% versus the session earlier, respectively.

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